S&P (E-minis) 12th July 2011 Recap

There is a breakout on Monday therefore there's an expectation that the trend will continue down into Tuesday's lows

That means Tuesday could move down into the lows and swing back towards daily 50% level later in the day

S&P Weekly and Daily range


S&P moved down into Tuesday's lows and then rotated back towards the daily 50% level, which formed resistance.

The trend remains trading around higher timeframe 50% levels (Monthly and Weekly)...

However, the critical level in the S&P 500 for the current Quarter remains 1325, as per Weekly report.













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